Strive is currently focusing on the athletic market by working with academic and professional athletes to establish our brand and develop the best possible products and services. In 2019, we will expand our focus to include the military and consumer markets. Once available to the consumer market, Strive will position itself as an acquisition target for larger consumer brands with the scale and leverage to expand Strive's technology even further.

Why I Like Strive Tech

Looking at all of this live, it’s a pretty unique concept. Watching it live is the only way you can get a full evaluation and understanding of the session but also of the player. Player-friendly is the key, and making sure that the player has a garment on that is not restricting their movement and they have no idea that they’re actually being tracked.

A new pair of compression shorts made by Strive Tech will measure an athlete's internal and external training loads. The company's founder learned his lesson on the balance between performance and fatigue the hard way.

July 23, 2018
@ sporttechie.com

07

23

2018

Lack of Precise Stress Measurement Costs Billions

Improving athletic performance requires a delicate balance of stress (training) and recovery (rest), but athletes and consumers have little to no methods of quantifying the relationship between stress and recovery. The lack of precise measurement costs the industry billions and is responsible for millions of yearly injuries, including 60% of military injuries.

We Make Any Apparel Smart With Sensor Integration

Our integrated belt buckle is agnostic with any clothing, turning your normal workout shorts into a smart compression system that meets users’ comfort needs while providing detailed insights into performance, fatigue, and recovery, all while being as simple to use as any piece of clothing.

Real-Time Performance Analytics

After working out with our sensor integration, our software provides data to users in real-time to understand any performance anomalies. We offer insights into what it takes for each athlete to perform at their max through automated, easy to understand reporting with no additional labor.

Let's Improve Athletic Performance Together

Dear Investors,

“Oh no, another wearable” … if those were your first words or thoughts, I ask you to pause for a second and give me a chance to explain why Strive is going to change the way people look at performance, fatigue, and fitness. We didn’t start with an idea to build the next wearable fad. As ex-athletes (professional and NCAA), we wanted to finally solve the problem that fatigue and performance present to players, coaches, military personnel, and consumers. We fundamentally reinvented clothing by integrating a lab into existing clothing.

Why does this matter? It matters because as you're reading this, whatever shorts, shirt, or pants you are wearing right now should be able to give you information that matters to you. That’s the world we see. The world in which the right data and insights are provided to you. This might seem all grandiose, but as you know, we’ve been held back by all gadgets and accessories, always making the trade-off by accepting discomfort for few data points. At Strive, we didn’t want to take that path. Finally, by combining muscle, heart, and motion measurements for the first time, we can present data that so far has never been measured in real-time.

So far, we developed our technology and delivered it to customers with $390K of funding. We are very efficient with money and believe that every dollar has its purpose. This money will be used to address our production funnel and deliver products to customers that are currently on the wait-list and address our inventory.

Why would you want to join our investment team? Because you agree that fitness and fatigue should not be limited to athletes only -- it should be available to everyone. We have poured blood, sweat, tears, and a lot of coffee to see Strive become a solution unlike any other. Sports is our initial market, but there are a lot of applications within the military, industrial, and medical markets that can be solved using Strive technology. We still believe that data is the future and what will ultimately position Strive as a leading solution.

We are well on our journey toward changing the fitness game. We hope you will join us for this ride!

-Nikola Mrvaljevic and Carsten Winsnes

The Numbers

Strive is actively working to increase customer acquisition efficiency while growing our funnel of professional and college teams.

Interview

Expand all

WF: What Customer problem does your product and/or service solve?

Fitness is complex! A lot of companies claim that they do it right, whether it's through heartbeats, motion, gait, or breath rates. It requires many tools, which makes it complex, expensive, limited, and slow. It doesn’t just affect athletes, but anyone who pushes their body: military members, firefighters, exercise enthusiasts, FedEx warehouse workers, etc. At Strive, we've developed smart compression clothing that monitors 3 key indicators of performance and fatigue: muscle, heart, and motion. Correlating this data allows for the quantification of performance, shows the root cause of fatigue, and predicts how a person will perform the next day. One of our key differentiation points is our ability to upgrade current compression clothing that athletes or military use to empower the human performance.

WF: How big is the market?

Our total addressable market is based on sizing from three individual markets: sports, military/homeland security, and consumer. All sizing is limited to U.S. markets, as an expansion to a worldwide market would increase sizing by an estimated 70%.

The sports market includes college and professional sports. Today, there are ~460,000 college athletes and ~15,000 professional athletes. With each athlete valued at $3,000, total sports market is $950M.

The military and homeland security market is comprised of 1.1M military members, 350,000 firefighters, and 50,000 police officers. With each individual valued at $2,000, the total market value is $1.1B.

The consumer market includes 25M people considered advanced consumers, which we have defined as an individual who works out at least 5x per week, is focused on performance, and uses at least one other method to monitor his/her progress. Each consumer is valued at $275, making the total consumer market value $6.9B.

Our final market opportunity is medical and industrial professionals. There are currently 50M chiropractic and physical therapy providers, warehouse workers, and industrial technicians. Valuing each of these customers at $275 brings this market to $13.8B.

WF: How does Strive make money?

Strive makes money from software, hardware, installation, and data.

Our revenue model will start by selling software and hardware as key revenue drivers. As adoption increases, our main revenue drivers will transition from hardware and software to data. Data will become the key revenue driver serving athletes, apparel brands, broadcasting and entertainment companies, and consumers.

WF: How do you acquire customers?

Within the sports market, we have leveraged the tightly-knit community of strength and conditioning coaches. Within this group, we have found a strong network effect and have built our funnel quickly and extensively through word-of-mouth.

In addition to our efforts with coaches, Strive attends the three largest strength and conditioning conferences: NSA, CSCCa, and Coaches Conference. At each, we present our technology and meet with coaches and influencers in the performance field.

Strive will focus on increasing product stickiness through data and predictive analytics. By storing, using, and learning from customer data, Strive becomes more valuable over time.

WF: Who are your competitors?

Strive's biggest competition is manual data tracking. For most teams, this is the status quo: coaches maintaining spreadsheets, using pen & paper, and trusting their instincts. While obviously the most affordable, this option is the riskiest, leading to errors and increasing risk of injury.

We believe that we're the first product to offer fully-integrated monitoring of three key performance indicators: muscles, heart, and motion. Other products track one or two of these -- Strive combines all three, finally allowing users to see the full picture of their body's performance.

We can monitor performance indoors and outdoors, as other products only capture one or the other, meaning users are either required to invest in multiple systems at massive cost or are making assumptions based on tracking only a fraction of their practices and games.

Unlike our competitors, Strive products are fully machine washable and dryer-friendly. Players also love that Strive technology is integrated into the compression clothing they already know and love.

Strive currently has over 10 premier professional and college coaches working around the clock to help improve the product and create the most useful solution on the market. They are invested in the product because they see that it is completely changing the way coaches gather and use data.

Strive's wellness-tracking software complements our hardware to deliver a 360-degree view of a players physical, mental, and emotional experience. Unlike our competitors' wellness offerings, which are time-intensive and difficult to follow, Strive's surveys take less than thirty seconds for players to complete, resulting in skyrocketing completion rates.

We often hear coaches say that competing products' output requires hours of their time to interpret. Coaches begrudgingly say the time is "worth it because [it's the only way] I get to see how my athletes perform." Strive's focus on meaningful, actionable data solves this problem. Data is presented in an intuitive, user-friendly dashboard featuring simple, beautiful graphics coaches can quickly understand, meaning they spend less time staring at screens and more time actually coaching.

WF: Why are you the right team to make this happen?

The co-founding team consists of ex-athletes, serial entrepreneurs, biomedical engineers, and computer scientists. This unique combination of expertise means we think differently about the intersection of science, software, and hardware and allows us to take a one-of-a-kind approach to developing our products.

Carsten, our COO, is a serial entrepreneur and ex-collegiate athlete who has started scaled companies. Most recently, Carsten helped build a medical software company as COO. He is a one-man band responsible for data processing, software and app development, and system architecture.

Nikola, our CEO, is an ex-athlete and engineer meets product manager. His background in biomedical engineering and body performance, combined with his passion for product development, allow him to help coaches and athletes by providing the science behind Strive.

In addition to our unique combination of experience and education, the team is endlessly gritty. Throughout this process, the team has been dedicated to bringing Strive's products to life, often coming with creative solutions in order to keep moving forward. One example was diving into material science and developing own sensors in our kitchen in order to successfully demo the product with teams in 2017. The team has seen quite a few obstacles and plowed through each one to get to the final product.

WF: How will Strive use this funding?

We will scale manufacturing to address significant unmet demand from college and professional sports teams, plus scale the team to support existing and new customers, continue product development, and establish the Strive brand.

Ask a Question

Risks

1

Inventory - In order to succeed the company needs to be able to reliably produce inventory to meet customer demand. Should there be an issue with production, the company's projected revenues could be negatively impacted.

2

Manufacturing - Setting up seamless supply chain is an objective that hasn't been established yet. Given tight resources, the company has had to develop a small number of molds, requiring manufacturing to be done by hand instead of using injection molding. This mode of production leads to slower production and is more prone to errors.

3

Competition - As our industry gains traction, other companies may go after smart clothing given the attention its getting from college and professional teams. Our competition may have more resources or personnel than we do.

4

Data Regulations - Handling and ownership of data is continuosuly being negotiated between players' associations and professional leagues. This is something Strive will have to monitor as one of the revenue streams is focused on monetization of data.

5

Bandwidth - The team is currently focused on selling to sports markets (college and pro). With an opportunity to sell to military and consumer, there is a risk that we may not have enough resources or bandwidth to support all three markets.

6

Our future success depends on the efforts of a small management team. The loss of services of the members of the management team may have an adverse effect on the company. There can be no assurance that we will be successful in attracting and retaining other personnel we require to successfully grow our business.

7

The Company is an early stage company incorporated in June 2016. Accordingly, the Company’s operations are subject to all the risks inherent in the establishment of a new business enterprise, including potential operating losses. Any investment in the Company must be considered in light of the risks, expenses and difficulties frequently encountered by companies in an early stage of development in new and rapidly evolving markets. The Company will be subject to factors affecting business generally, such as general economic conditions, increasing government regulatory activity, scarcity of environmental resources, and competition. The Company believes that the estimates prepared by them as to capital, personnel, equipment and facilities required for their operations are reasonable, but until their operations have continued for a period of time, it will be impossible to determine the accuracy of such estimates. No assurance can be given as to the ultimate success of the Company., especially given that it is pre-revenue. The likelihood of the success of the Company must be considered in light of the problems, expenses, difficulties, complications and delays frequently encountered in connection with the formation of a new business.

Other Disclosures

Read the
Form C
filed with the SEC for other important disclosures, like financial statements, Directors, Officers, shareholders with more than 20% of voting rights, and more.

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